OneConnect Financial Technology (NYSE:OCFT) Issues Earnings Results, Meets Estimates

OneConnect Financial Technology (NYSE:OCFTGet Rating) issued its quarterly earnings data on Wednesday. The company reported ($0.76) EPS for the quarter, hitting analysts’ consensus estimates of ($0.76), Fidelity Earnings reports. OneConnect Financial Technology had a negative return on equity of 29.06% and a negative net margin of 31.00%. During the same quarter in the prior year, the company posted ($0.13) earnings per share.

Shares of OneConnect Financial Technology stock opened at $1.35 on Thursday. The firm has a market cap of $526.49 million, a price-to-earnings ratio of -2.55 and a beta of 0.40. The business has a fifty day simple moving average of $1.45 and a 200-day simple moving average of $1.88. OneConnect Financial Technology has a fifty-two week low of $0.99 and a fifty-two week high of $19.60.

A number of brokerages have issued reports on OCFT. HSBC lowered OneConnect Financial Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 24th. JPMorgan Chase & Co. lowered OneConnect Financial Technology from a “neutral” rating to an “underweight” rating in a research report on Monday, March 14th. Finally, Zacks Investment Research upgraded OneConnect Financial Technology from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.50.

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in shares of OneConnect Financial Technology in the first quarter valued at $41,000. UBS Group AG lifted its holdings in shares of OneConnect Financial Technology by 368.0% during the first quarter. UBS Group AG now owns 52,767 shares of the company’s stock valued at $74,000 after purchasing an additional 41,492 shares during the last quarter. Cibc World Market Inc. lifted its holdings in shares of OneConnect Financial Technology by 24.6% during the first quarter. Cibc World Market Inc. now owns 73,805 shares of the company’s stock valued at $104,000 after purchasing an additional 14,574 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of OneConnect Financial Technology during the fourth quarter valued at $114,000. Finally, Jane Street Group LLC lifted its holdings in shares of OneConnect Financial Technology by 321.4% during the first quarter. Jane Street Group LLC now owns 127,134 shares of the company’s stock valued at $179,000 after purchasing an additional 96,964 shares during the last quarter. Institutional investors and hedge funds own 14.91% of the company’s stock.

About OneConnect Financial Technology (Get Rating)

OneConnect Financial Technology Co, Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It offers digital retail banking, digital commercial banking, digital auto insurance and life insurance, and artificial intelligence customer services, as well as sales management, risk management, and operation support services.

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Earnings History for OneConnect Financial Technology (NYSE:OCFT)

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